Property prices in southern Europe continue to fall

The crisis in the eurozone is hardly a well guarded secret, and the state of the continent's property markets has resulted in many Brits looking to cash in on the situation by picking up an overseas bargain.

Yet if anyone thinking of getting involved in the holiday home action was concerned that they may have left it too late to take advantage of the euro's troubles, the latest figures released by Jones Lang LaSalle suggest that there are still plenty of opportunities to find foreign properties for a fraction of their previous value.

According to the statistics, house prices in Ireland have been falling by an astonishing 18 per cent per annum, while Greece has seen declines of ten per cent and Spain and Portugal have witnessed drops of between seven and eight per cent.

So whether you've been thinking of buying somewhere sunny for when the clouds gather above Britain's rain soaked streets or are more inclined to see an overseas property as an investment rather than a luxury, it seems that now is as good a time as any to cash in on the eurozone crisis.

And if you find yourself falling into the latter category, Paul Collins, editor at BuyAssociation, believes you should consider any foreign assets as a medium to long-term investment.

"With any [European] property investment at the present time - particularly residential property - you would be looking at a medium to long-term investment, in terms of gaining a return," he said.

But whatever your reason for buying a property on the continent, it's always important that you remember the need to ensure it is properly protected against the threat of theft and damage - especially if it is not always going to be occupied.

Holiday home insurance policies are an effective financial safety net that can reduce the risk of your overseas assets leaving you facing any losses, covering the cost of criminal activity or any essential repair work.